{"id":79060,"date":"2024-06-06T00:00:00","date_gmt":"2024-06-06T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/logistics\/2024\/06\/06\/saudi-investors-will-develop-a-120k-sqm-logistics-hub-at-djibouti-port\/"},"modified":"2024-06-06T00:00:00","modified_gmt":"2024-06-06T00:00:00","slug":"saudi-investors-will-develop-a-120k-sqm-logistics-hub-at-djibouti-port","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/logistics\/2024\/06\/06\/saudi-investors-will-develop-a-120k-sqm-logistics-hub-at-djibouti-port\/","title":{"rendered":"Saudi investors will develop a 120k sqm logistics hub at Djibouti Port"},"content":{"rendered":"

<\/strong>A consortium of Saudi investors inked a 92-year contract to establish a <\/strong>120k sqm <\/strong>Saudi Logistics City in Djibouti Port freezone<\/strong>,<\/strong> poised to become the Kingdom\u2019s largest foreign logistics zone, SPA<\/a> reports. No additional details regarding an investment ticket or timeline for execution were disclosed.<\/p>\n

Who\u2019s in? <\/strong>While no specifics were disclosed, this project is the result of a visit by the delegation of the Federation of Saudi Chambers to Djibouti including over 100 investors and representatives of several government agencies and entities, SPA writes.<\/p>\n

Details:<\/strong> The hub will cover some 120k sqm in its first phase, and will include a permanent exhibition, platforms for Saudi firms, and a trade area that includes facilities such as warehouses, SPA said. The project is set to position Djibouti\u2019s port as a gateway for Saudi exports to Africa. Authorities from Djibouti have pledged to grant Saudi Arabian industries similar facilities and incentives to those extended to their Djiboutian counterparts at the freezone, SPA added. <\/p>\n

Djibouti + KSA are doubling down on ties: <\/strong>Djibouti\u2019s President Isma\u00efl Omar Guelleh provided statements alluding to the project in a February interview with Al Sharq Al Awsat<\/a>. Efforts were ongoing to develop maritime and air freight projects linking KSA and Djibouti, including the establishment of a freezone and warehousing for Saudi exports at Djibouti\u2019s international freezone in a bid to boost Saudi exports to Africa, Guelleh said. Both states are also cooperating on ports and maritime security in the Red Sea, he added.<\/p>\n","protected":false},"excerpt":{"rendered":"

The logistics city is set to be KSA\u2019s largest overseas logistics zone<\/p>\n","protected":false},"author":1,"featured_media":79061,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[45],"tags":[44,31,207,32],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-79060","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment-watch","tag-investment-watch","tag-saudi-arabia","tag-storage-warehouses","tag-trade","wpautop","entry"],"acf":{"mongo_id":"5b904dbb-b99d-4f6d-b5ce-35a135b8787d","order":"4","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/6\/539.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Saudi investors will develop a 120k sqm logistics hub at Djibouti Port","related_issue":[79053],"teaser":"The logistics city is set to be KSA\u2019s largest overseas logistics zone","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/6\/.bd07c32d-c21e-4225-ab58-763ee7ddf280.mp3"},"yoast_head":"\nSaudi investors will develop a 120k sqm logistics hub at Djibouti Port - 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